Shares of RenaissanceRe Holdings Ltd. (NYSE:RNR – Get Free Report) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $332.70 and traded as high as $340.63. RenaissanceRe shares last traded at $338.4120, with a volume of 555,566 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. UBS Group set a $349.00 target price on shares of RenaissanceRe and gave the company a “neutral” rating in a research report on Monday, July 27th. Jefferies Financial Group raised shares of RenaissanceRe from a “hold” rating to a “market outperform” rating in a report on Tuesday, September 22nd. Wells Fargo & Company lowered their price objective on shares of RenaissanceRe from $331.00 to $319.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Wolfe Research set a $315.00 price objective on shares of RenaissanceRe in a report on Tuesday, July 7th. Finally, Mizuho upped their target price on shares of RenaissanceRe from $325.00 to $329.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $340.00.
Read Our Latest Research Report on RenaissanceRe
RenaissanceRe Stock Performance
The firm has a market cap of $13.71 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.12. The company has a 50 day simple moving average of $333.05 and a 200-day simple moving average of $310.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.40 and a quick ratio of 1.38.
RenaissanceRe (NYSE:RNR – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The insurance provider reported $12.71 earnings per share for the quarter, topping analysts’ consensus estimates of $10.56 by $2.15. RenaissanceRe had a net margin of 16.25% and a return on equity of 21.13%. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted $15.62 EPS. As a group, equities research analysts anticipate that RenaissanceRe Holdings Ltd. will post 47.45 EPS for the current year.
Institutional Trading of RenaissanceRe
Hedge funds have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its stake in RenaissanceRe by 0.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,405 shares of the insurance provider’s stock valued at $1,713,000 after acquiring an additional 32 shares during the period. Wedmont Private Capital grew its stake in shares of RenaissanceRe by 3.1% in the second quarter. Wedmont Private Capital now owns 1,205 shares of the insurance provider’s stock worth $380,000 after acquiring an additional 36 shares during the period. Mather Group LLC. grew its stake in shares of RenaissanceRe by 18.0% in the third quarter. Mather Group LLC. now owns 242 shares of the insurance provider’s stock worth $77,000 after acquiring an additional 37 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of RenaissanceRe by 90.0% in the third quarter. Elevation Wealth Partners LLC now owns 95 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 45 shares during the period. Finally, Midwest Professional Planners LTD. raised its holdings in shares of RenaissanceRe by 1.5% during the first quarter. Midwest Professional Planners LTD. now owns 3,313 shares of the insurance provider’s stock valued at $985,000 after purchasing an additional 48 shares during the last quarter. 99.97% of the stock is owned by institutional investors.
RenaissanceRe Company Profile
RenaissanceRe Holdings Ltd. is a global provider of reinsurance and insurance products. The company specializes in helping insurers, businesses and other organizations manage financial risk arising from natural catastrophes, specialty exposures and certain casualty risks.
RenaissanceRe’s reinsurance activities include property catastrophe coverage, as well as casualty and specialty reinsurance. Through its insurance operations, the company provides coverage for areas such as property, casualty and other specialty risks.
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